Sector Update: Energy


Energy shares traded mixed in pre-market trade Tuesday as crude oil futures were slightly lower.

Light, sweet crude oil for August delivery was up 0.07% at $106.24 per barrel. In other energy futures, heating oil was up 0.04% at $3.04 per gallon while natural gas was up 0.63% at $4.47 per million British thermal units.

In energy ETFs, the United States Oil Fund ( USO ) was up 0.05% at $39.18. The United States Natural Gas ETF ( UNG ) was up 0.49% at $24.81.

In other energy news, Tesoro ( TSO ) said late Monday it has entered into an agreement through which its Tesoro Logistics ( TLLP ) subsidiary will acquire terminalling and pipeline assets owned by Tesoro and two of its subsidiaries, Tesoro Refining & Marketing Company and Tesoro Alaska Company.

Under the terms of the deal, TLLP will acquire three marketing terminals, a storage facility and a refined products pipeline for $270 million. The assets are expected to contribute estimated additional annual EBITDA of $28 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: USO , UNG , TSO , TLLP

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by